Origin lifts net profit to $794m

February 23, 2012

Energy producer and retailer Origin Energy has posted a first half net profit of $794 million compared to a $136 million loss for the previous corresponding period.

The profit is also higher than its 2010/11 full year profit of $186 million, with write-downs on assets and transaction costs from acquisitions affecting the previous two periods.

Origin on Thursday reaffirmed full year guidance for 30 per cent growth in underlying profit.

The company said it expected energy market volumes to be similar in the second half.

It also said higher debt balances would lead to higher financing costs in the second half.